Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Blacks:

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Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

Originally Posted by 66gardeners

The wealth gap between blacks and whites has ballooned since the middle of the Reagan administration, nearly tripling between 1984 and 2009, according to a new Brandeis University study.

The study, released Wednesday, found that the median white household held a net worth of $265,000 by 2009, eight times more than the median black household's net worth of just $28,500. That division will continue to haunt black Americans for years to come, according to Tatjana Meschede, a co-author of the study.

How is this happening? I know the average wages in this country have remained stagnant, but my impression has been that black folks slowly but surely have shattered the glass ceiling in many industries. I guess I was wrong.

Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

Originally Posted by 66gardeners

The wealth gap between blacks and whites has ballooned since the middle of the Reagan administration, nearly tripling between 1984 and 2009, according to a new Brandeis University study.

The study, released Wednesday, found that the median white household held a net worth of $265,000 by 2009, eight times more than the median black household's net worth of just $28,500. That division will continue to haunt black Americans for years to come, according to Tatjana Meschede, a co-author of the study.

How is this happening? I know the average wages in this country have remained stagnant, but my impression has been that black folks slowly but surely have shattered the glass ceiling in many industries. I guess I was wrong.

It is because most black households are a generation or 2 at most into wealth accumulation and white households have a head start as a group in that regard. The decreasing purchasing power of a dollar over time combined with the time value of money favor whites who have as a whole accumulated more income producing wealth than blacks as a whole over a longer period of time. The issue isn't income but wealth, and there is a big difference between the two. People who don't invest their money or have none to invest are not going to do as well as those who do over a lifetime generally, black or white, and likewise will have less to pass to the next generation of their family.

Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

Originally Posted by Fisher

It is because most black households are a generation or 2 at most into wealth accumulation and white households have a head start as a group in that regard. The decreasing purchasing power of a dollar over time combined with the time value of money favor whites who have as a whole accumulated more income producing wealth than blacks as a whole over a longer period of time. The issue isn't income but wealth, and there is a big difference between the two. People who don't invest their money or have none to invest are not going to do as well as those who do over a lifetime generally, black or white, and likewise will have less to pass to the next generation of their family.

That doesn't explain the relative success other cultures have had in coming to the United States and succeeding.

Blacks have been in the United States a lot longer than Asians and Hispanics yet do significantly worse than both group.

Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

Originally Posted by Dapper Andy

That doesn't explain the relative success other cultures have had in coming to the United States and succeeding.

Blacks have been in the United States a lot longer than Asians and Hispanics yet do significantly worse than both group.

I wasn't attempting to explain black economic performance in relation to those two groups. I strongly suspect that in a generation, Asians and Hispanics will start to blow whites out of the water on an average household basis.

Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

Originally Posted by 66gardeners

The wealth gap between blacks and whites has ballooned since the middle of the Reagan administration, nearly tripling between 1984 and 2009, according to a new Brandeis University study.

The study, released Wednesday, found that the median white household held a net worth of $265,000 by 2009, eight times more than the median black household's net worth of just $28,500. That division will continue to haunt black Americans for years to come, according to Tatjana Meschede, a co-author of the study.

How is this happening? I know the average wages in this country have remained stagnant, but my impression has been that black folks slowly but surely have shattered the glass ceiling in many industries. I guess I was wrong.

That's what happens when a group of people puts all their hopes and dreams into the Democratic party.

Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

Originally Posted by jmotivator

That's what happens when a group of people puts all their hopes and dreams into the Democratic party.

Yep. But they keep on pulling the "D" lever in the voting booth, so all is well in demorat land.

“The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

Originally Posted by Dapper Andy

Why does it have to be one or the other for you?

Whose sock is this

One or the other? A bad law is a bad law. It's affect on groups differ, as would any broad and all encompassing laws usually do. Pointing out how severe it's effects on one group, and comparing it to it's relatively minor effect's on another group is not a case of one or the other.

Again, a bad law is a bad law A.K.A. a contributing factor (cause) to the racial wealth gap.